MNI China Daily Summary: Friday, January 10

MNI BRIEF: China To Adopt Very Proactive Fiscal Policy-Offical

CANADA LIBERAL LEADERHIP VOTE TO REPLACE TRUDEAU SET FOR MAR 9

MNI BRIEF: PBOC Suspends Bonds Trades As Yields Drop

MNI: PBOC Net Drains CNY14.8 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1891 Fri; -2.36% Y/Y

USDA: CORN STOCKS 12,074M BSL ON JAN 1

MNI: USDA: 2024/2025 CORN PRODUCTION EST 14.87B BSL

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

KRW: National Pension Service Reportedly Selling USDs - RTRS

KRW
EM BulletBulletSouth KoreaAPACEmerging Market News

Headlines have crossed from Reuters that the South Korean National Pension Services (NPS) has been selling USD's in the onshore market recently (see this link). 

  • Reuters notes "The pension fund is selling dollars in the spot market lately," one source said. "It is seen related to tactical FX hedging or portfolio rebalancing. "Another source said the dollar selling this month was likely for portfolio rebalancing purposes. "The pension fund has to sell if the ratio of foreign assets surpasses the target," the person said. The NPS sold "quite an amount" of dollars, they added, without providing further detail.

  • This follows recent speculation that the swap deal with NPS and BOK could be extended beyond the end of this year and potentially increased in size. 

     

123 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Headlines have crossed from Reuters that the South Korean National Pension Services (NPS) has been selling USD's in the onshore market recently (see this link). 

  • Reuters notes "The pension fund is selling dollars in the spot market lately," one source said. "It is seen related to tactical FX hedging or portfolio rebalancing. "Another source said the dollar selling this month was likely for portfolio rebalancing purposes. "The pension fund has to sell if the ratio of foreign assets surpasses the target," the person said. The NPS sold "quite an amount" of dollars, they added, without providing further detail.

  • This follows recent speculation that the swap deal with NPS and BOK could be extended beyond the end of this year and potentially increased in size.